Norway’s sovereign wealth fund agreed to buy a 50 percent stake in seven properties in and around Paris for 702 million euros ($1 billion) from Axa SA, as it seeks to add at least $25 billion in real estate assets to boost returns.
The $570 billion Government Pension Fund Global will form a joint venture with Axa that will manage the properties, the Oslo-based investor said today in an e-mailed statement. The transaction is expected to be completed in the third quarter.
The $570 billion Government Pension Fund Global will form a joint venture with Axa that will manage the properties, the Oslo-based investor said today in an e-mailed statement. The transaction is expected to be completed in the third quarter.
